We will cooperate to sue the EU, so we can sell our CPO (crude palm oil) in EU countries
Tangerang, Banten (ANTARA) - Indonesia is ready to collaborate with Malaysia to fight against the European Union Deforestation Regulation (EUDR) that it deems discriminatory, the Commodities Futures Trading Regulatory Agency (Bappebti) stated on Thursday.

The EUDR bans the imports of products produced through deforestation processes to countries in the European Union (EU).

"Yes, both of us (Indonesia and Malaysia) have been banned by the EU. We will cooperate to sue the EU, so we can sell our CPO (crude palm oil) in EU countries," Head of Bappepti Didid Noordiatomoko remarked in Tangerang, Banten.

He made the statement on the sidelines of the Trade Indonesia Expo 2023 that will last until October 22.

According to Noordiatmoko, the collaboration will be forged on the basis of the fact that both Indonesia and Malaysia are CPO-producing countries. Moreover, both Southeast Asian countries have CPO exchanges.

Minister of Trade Zulkifli Hasan recently launched Indonesia's CPO exchange on Friday (October 13). Prior to the launch of the exchange, Indonesia was referring to CPO exchanges in Malaysia and the Netherlands to determine the price of its CPO.

Regarding the exact form of collaboration, Noordiatmoko explained that both parties are still in the process of discussion.

"We already have talks with Malaysia regarding the collaboration. However, we have not decided on its exact form," he noted.

He then affirmed that the newly launched CPO exchange could serve as a bridge connecting Indonesia and Malaysia to collaborate rather than a tool for competing.

"We seek collaboration, not competition (with Malaysia)," he remarked.

Furthermore, he said he would attend the 2023 Indonesian Palm Oil Conference in Bali in November to promote Indonesia's CPO exchange to the participating countries of the conference.

"I will promote the exchange there, then we will see the responses," he remarked.

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Translator: Maria C, Tegar Nurfitra
Editor: Sri Haryati
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